Thursday, March 21, 2013
Nikkei Ends Above 12,600 1st Time Since Sept '08
TOKYO (NQN)--Tokyo stocks continued higher Thursday, with the Nikkei Stock Average surging 167.46 points, or 1.34%, to end the day at 12,635.69.
The benchmark index topped 12,600 for the first time since Sept. 8, 2008.
Wall Street's overnight rise amid easing concerns about the euro zone's bailout plan for Cyprus and growing expectations of a U.S. recovery lifted stocks in Tokyo, with the weaker yen spurring buying of exporters.
High hopes for Japanese fiscal policy and stimulus steps pushed up domestic demand-linked stocks. The Nikkei average briefly widened its gains to more than 180 points on lingering expectations that overseas investors will step up purchases of Japanese stocks.